Commercial building disclosure regulations explained

Under the new Building Energy Efficiency Disclosure Act 2010, there will now be a transition period for the first twelve months for the Commercial Building Disclosure (CBD) program.

The Building Energy Efficiency Disclosure Act 2010 commences in July 2010 but the disclosure obligation does not commence until 01 November 2010.

Under the new program, from 01 November 2010 sellers or lessors of office space of 2,000 square metres or more will be required to obtain and disclose a current energy efficiency rating. Certain exceptions and exemptions may apply.

From 01 November 2010 to 31 October 2011, the energy efficiency rating required to be disclosed will be a NABERS base or whole building rating.

In order to meet the Building Energy Efficiency Disclosure Act 2010 requirements, the NABERS Energy rating must

• be obtained either before or during the transition period
• be a base building or whole building rating
• be current (that is, the validity period stated on the NABERS Energy rating must not have expired) and
• be publicly accessible on the CBD program website

To summarise important dates to note are:

July 2010 

Building Energy Efficiency Disclosure Act 2010 commences – no disclosure obligation

01 November 2010

Implementation date – disclosure obligation commences for affected offices offered for sale, lease or sublease. Transition period begins – NABERS Energy ratings are to be disclosed

Mid-2011

Building Energy Efficiency Certificate can be obtained

31 October 2011

Transition period ends

01 November 2011

Full Building Energy Efficiency Certificates are to be disclosed from this date onwards
 
For more information contact your nearest Apex Property Consulting office